Campbell Soup plans to sell international, fresh units
Campbell Soup Co. plans to focus on its core snacks and soup business in North America and sell its international business, paying down debt.
The Camden, New Jersey, company said Thursday it's working urgently to complete all the moves by next July. The planned sales will leave Campbell Soup with brands including Goldfish, Pepperidge Farm and Snyder's of Hanover.
Separately Campbell Soup posted fiscal fourth-quarter net income of 31 cents per share, or 25 cents per share on an adjusted basis, beating the average Street estimate by a penny.
Sales of $2.22 billion fell short. In premarket trading, shares of the company rose one cent to $40. Shares are down nearly 17 percent in the year to date.